Act Today For A Brighter Tomorrow....

Welcome, to my blog, these are purely researched & facts available on the internet and my views. I consider myself to be a novice in this space, yet I do have some thoughts I wish to pen down.

Not because I wish to influence any decisions my fellow Canadian Citizens make before they vote. But because I too wish like others that change is for the brighter tomorrow for pushing Canada forward in all endeavors that it undertakes for people and families & not for the somersault backwards.

1. Economy & Money

The buzz word, not only in Canada, but everywhere else too. Despite slowdown, the economy is not in any way in a bad shape. The economy of Canada is a highly developed market economy. It is the 10th largest GDP by nominal and 16th largest GDP by PPP in the world. As with other developed nations, the country's economy is dominated by the service industry which employs about three quarters of Canadians. Canada has the fourth highest total estimated value of natural resources, valued at US$33.2 trillion in 2016. It has the world's third largest proven petroleum reserves and is the fourth largest exporter of petroleum. It is also the fourth largest exporter of natural gas. Canada is considered an "energy superpower" due to its abundant natural resources and a small population of 37 million inhabitants relative to its land area.

As per 2017 stats we have a stronger Debt to GDP Ratio of 89.7% as against 107.8% of our neighbors down south. I quote CBC News, Canadian economy entered 2018 on an unexpectedly impressive run, and began 2019 on a healthy note. ... Through much of 2018, Canada's unemployment rate hovered near a 40-year low and job creation remained strong as the evidence pointed to an economy going at close to full tilt.

According to the Corruption Perceptions Index, Canada is one of the least corrupt countries in the world and is one of the world's top ten trading nations, with a highly globalized economy.

The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. A country scores a higher HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. Canada ranks very high in HDI at 0.926, and good news is it is rising YOY. Thanks to immigration!

2. Jobs & Employment

As per StatsCanada - The US-adjusted employment rate in Canada was 62.5% in January, compared with 60.7% in the United States. On a year-over-year basis, the employment rate rose by 0.5 percentage points in the United States and 0.3 percentage points in Canada.

This even though Canada has a larger population of immigrants each day that gets added to its labor force than any other country. Which is the biggest factor in the rise of unemployment marginally now & then.

Unemployment rate increased to 5.7%

Source: Statistics Canada, Labor Force Survey, Table 14-10-0019-01, (seasonally adjusted data). Ontario's unemployment rate increased to 5.7% in January from 5.4% in December, as a result of an increase in the number of people in the labor force.

Just 6 days ago from today as I write this article; The Canadian economy added a stronger-than-expected 53,700 net jobs in September, with all the gains coming in full-time work and largely driven by the services sector, Statistics Canada data said on Friday in one of its last major economic data releases before a national election.

Actually, the national unemployment rate fell to 5.5 per cent from the 5.7 per cent seen in August, while wages for permanent employees rose 4.3 per cent year-over-year. Analysts in a Reuters poll had forecast a gain of 10,000 jobs and an unemployment rate of 5.7 per cent. This will fluctuate as the intellectuals will know due to new labor force getting added daily as people land for better opportunities in this Dream Land called Canada.

StatsCan said the services sector gained 49,400 jobs in September, mostly in the healthcare and social assistance sectors, while the goods-producing sector saw an increase of 4,300, because of the construction industry. Meanwhile, the number of full-time jobs rose by 70,000, while part-time jobs fell by 16,300.

These are signs of a stronger job market and reflects what the industry & government partnership is working towards.

3. Real Estate Market & Shelter

I quote here from an article in The Star - New Canadians account for one in five of all housing purchases and are expected to buoy the market in the Toronto region and across Canada over the next several years, says a new survey for Royal LePage.

Demand for homes in Toronto continues to grow amid lower interest rates and limited supply — and as buyers adjust to stricter mortgage-lending rules. The average resale home price for all housing types in the Toronto region rose 5.8 per cent year over year in September to $843,115 as the number of new listings fell 1.9 per cent compared with a year ago, the Toronto Real Estate Board said.

According to the August 2019 survey of 1,500 immigrants who arrived in Canada within the past decade, newcomers represent 21 per cent of all home buyers, with the group expected to acquire 680,000 properties over the next five years. In 2018, international migration accounted for 80.5 per cent of Canada’s population growth, Statistics Canada data shows. Again, thanks to International Immigration & Canada as the number 1 choice.

I see construction in full swing across residential, office space or industrial even in small cities. At the end that shows me that investors are spending now to reap benefits in the long run.

Canada’s central bank has not moved interest rates since October 2018, even as some of its counterparts – including the U.S. Federal Reserve – have eased. The Bank of Canada has said the Canadian economy is showing a welcome degree of resilience against negative shocks, in part, because of a strong labor market.

4. Growth Forecasts

A day before the IMF -International Monetary Fund released it’s 2019 projection for Canada, it foresees economic growth of 1.5 per cent, rising to 1.8 per cent growth in 2020 -- down from the previous estimate of 1.9 per cent growth in 2020. Both estimates are down from the 1.9 per cent growth experienced by Canada in 2018.

The updated forecast released Tuesday was prepared for the fall meetings this week of the 189-nation IMF and its sister lending organization, the World Bank. Those meetings and a gathering Friday of finance ministers and central bankers of the world's 20 biggest economies are expected to be dominated by efforts to de-escalate trade wars.

The Bank of Canada has taken a different approach so far. It left its key short-term rate unchanged at 1.75 per cent last month. It said Canada’s economy was operating close to potential and inflation was on target but noted that trade conflicts and related uncertainty were taking a toll on the global and Canadian economies.

The Bank of Canada’s next interest rate announcement and monetary policy report is scheduled for Oct. 30, following the federal election on Oct. 21.

5. Emerging Technology Sector

Canada has the ninth-highest economic freedom score (77.7) in the world based on the Economic Freedom of the World Index. The top 10 countries by economic freedom are: Hong Kong, Singapore, New Zealand, Switzerland, Australia, Ireland, Estonia, United Kingdom, Canada, United Arab Emirates.

As per an article from Randstad - Considering instability in other areas of the world, Canada finds itself in a unique position. With the current uncertain political climate and immigration ban upheaval in the US, Canada shines as a beacon of political, economic and social stability. This is the fertile ground in which entrepreneurship, business development and progress take root and grow, and societies thrive. Where international IT professionals would not have considered Canada as an option before, they’re now seeing the country and its opportunities in a new light. In the same way, international tech companies and investors now consider Canada as the best environment in which to do business, expand or relocate.

Instead of following the brain drain to the south, Canadian IT professionals are staying put and happy to do so, while their colleagues from the US and abroad are now choosing Waterloo and Toronto over Silicon Valley.

6. Public Opinion

I would divide it into two parts, as I hear my colleagues, friends, acquaintances talk in different discussion forums.

Opinion of the Canadian Citizens referred to as OCC henceforth in this article & Opinion of the Canadian Residents referred to as OCR henceforth in this article (PR)

OCC - Says people want change in leadership, when asked why & change at the cost of what, they say because current leader is too soft doesn’t Project Canada as a strong nation on the world stage, Really, what else do you expect from the leader when you have a turbulent atmosphere globally, economies are down, wars are raging, lies are floating and what not. Really if that is so then why do people crave for Immigrating to Canada. It is for better living standards, healthcare, environment, lifestyle etc, which I am 100% sure, everyone is getting, witnessing & living in. That too reflects what is projected to the world by our leader and with policies to enable Canada to march ahead into the next decade with bigger more better labor force. That why people dream & wish to immigrate to Canada, I am thankful!

OCR - Remember this category of people are recent immigrants mostly people who immigrated during or just before the current governments tenure & they can’t vote. They say, we expect to have jobs, a strong economy and yes we are willing to do whatever for this country as this is our new land of opportunities, the stories of struggle are abundant, however the story of the first job and well established lifestyles are also abundant, one has to have, skills, experience and wisdom with an ear for listening patiently & not selectively by convenience.

All in all, my assessment of the current government on all accounts is a 100% Positive. Do we need change, at a leadership level in the country, you can gauge by analyzing what we all are witnessing since June 2018 in the province of Ontario, if we wish to replicate that all over Canada, everyone is more than welcome. I wouldn’t vote is because I am an OCR still.

Is the other leaders projected as PMs stronger as leaders of Canada is like an experiment in the lab, do we have the appetite for experimentation, not at all is what I believe as the emotions maybe high. (A lot of my Indian friends will be high on emotions, but remember, Canada is not one person or party, Canada is what all of us make it and it is a mosaic culture amalgamating the best of all from world over, you need that to continue.) Also, emotions should not overcome reality & action and hence if given an opportunity I will #ChooseForward.

Enable the current government by giving another opportunity to further our focus on #ChooseForward, Growth in Robust Economy, Strong Labor Force, Emerging Technologies, World Class Infrastructure, World Renowned Healthcare/Pharmacare and much more. As in just four short years, we’ve created over a million new jobs, and lifted 900,000 people out of poverty, including 300,000 kids, which is true People & Families Agenda. The others are yet to share their agenda and I am surprised its already Election Day in 4 days, so I suggest don’t forget 4 years just yet & vote to #ChooseForward. If you think I made a point through my little contribution to the electoral debate, with all due respect to all parties and candidates I rest my views here and wish all the Very Best To All Candidates Across Canada, May The Best WIN.

I the OCR - Ravi Anand